"Fasten your seatbelts, it's going to be a bumpy night!" - Bette Davis as Margo Channing in that great movie, "All About Eve" (1950).
Europe had a panic yesterday when the US markets were closed as did Asia overnight both Sunday and Monday. US futures are down 500 pts on the Dow as of 4AM. Babblevision has stunned German reporters talking about worst markets in memory, and "man on the street" interviews of Chinese "investors".
There was no significant news.
As usual, Bunkerman was early in buying a barrel of GE on Friday plus more BAC and JPM. Sigh... that's getting a bit tiring. I'm putting some more money back into the Alpha Fund accounts as to my tired old brain thinks I am getting prices of a lifetime on high quality stocks that I can hold for a decade.
Beefers seem to want to create a financial panic ... half are pressing shorts and the rest are screeching sell and panicking to do something to keep their jobs and gross pay. That's an industry that needs to be gutted and put into a straitjacket of regulation. Trillions of hot money flopping around is highly dangerous to the innocent "common man" investor and global economies.
BAC reports this morning ... I admit to being nervous.
The Fed must cut rates bigtime now - 100 bps would be OK for now with a signal for more.
Also derivatives and hedge funds must be regulated and the uptick rule needs to be reinstated. Those are another of Elmer's long list of errors.
PS: I have to take the Kelpies to sheep herding classes midday, so will miss some of the "fun".
PPS: I'm putting more money into Mrs. B's Sky Fund as there are a couple of stocks she can now get at fine prices.
P^S: Fed does what Bunkerman says ... finally ... cuts 75 bps.
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77 comments:
Dupont beats EPS and revs for Q4, guides inline. No recession is reality.
rail CSX big beat EPS and small beat revs for Q4. No recession in reality.
Fifth Third Bank beats big EPS.
Keycorp big beat EPS, "no meaningful CLO, CDO, ABCP or SIV exposure"
I think a Fed overnight rate of under 3% is now needed, that would be a real rate of under 1%, but still above zero.
The problem the recession mongers have is really the problem to optimists have ... the Fed.
The fearmongers need more Fed errors ... I need the Fed to do the right thing. This "credit crunch" can turn off as fast as it turned on. The Fed has the switch.
Is it possible Ben waits until next week Bunkerman?
sadly, mfl, I think that is a yes :-(
Perhaps he wants to get rid of the "Bernanke put" talk, etc.
Ivory tower guys aren't reliable.
congrats spin even though it cost me. had the pats and pack in a teaser, oh well, still wud have to lose a bundle on the super bowl to be flat on the year.
thx ill take the gmen -14 or whatever. pats have not been covering. ever since the eagles gave everyone the road map, pats games have been a lot closer.
unless we lose a grand today i dont see ben doing anything.
this was actually pretty predictable on friday. man ive been hot lately, it is a lot easier when u r in the stands though. also this is the tape ive been waiting for since july of 2006, so i was way off.
i like seeing oil, gold and silver melt. this is further proof that this is not only genuine demand but beefers driving this stuff up.
inflation broke weeks ago, but i dont think this wud have happened if the fed wud have listened to bman and jjc back in august. similar to 2000 the gunslingers really had to die. in 2000 that was munder, aim, etc
this time it was FNM, CFC, MER, and C. that unfortunately means tons of creative destruction unless the fed nigger rigs it again, a la 2001-03. the proper recession was never allowed to play out early this decade so that just means more pain this time, unless the fed goes back to speedballing.
"american workers r the most productive and inovative any where in the world" henry paulsen
LMAO!!!!!!!!!!
most americans work just hard enuff not to get fired, and that is a fact.
it seems hard to debate the recession thing. we r in a bear market by definition or damn close. housing is in a depression. and 70% of the country thinx we r in a recession. psychology and balance sheets r key for the consumer. yes corporate balance sheet look great. the avg american is thinking about declaring BK, abanoning their homes, and vanishing like a virgin on prom nite. and a lot of the people leaving thier homes r taking it on the banks, trashing the place before leaving, making it even harder to sell the home.
watched many debates over the weekend. i think i may vote mccain, which i didnt think was likely a few months ago.
if i was bud, obamam seems so much better than clinton or edwards. hiliary reminds me of the avg american. she thinx she is entitled to be prez becuase she has paid the dues and has the experience. what she doesnt get is the avg american is so sick of people with the DC experience and pedigree. id much rather have a black, non experienced, cocaine snorther, than a snobby, bitchy, mean, crook.
OMG is the press conference BS!
i know ive been broken record for going on 2 yrs, at the same time, is it really odd this happened? maybe becuase i am on the front line here in crackerville, but really i just cant see how the cramers and the revs didnt see this coming from 30k feet in the air? i know todd harrison and all of minyanville saw it coming since 2003, but 5 yrs early is a bit much. at least todd recognized his mistake about deflation in late 03 and went long oil and metals, while shorting the fins.
now i guess iraq becomes mute and this election is focused on the economy. the problem is, the people voting. they r the ones who went 200% long the nazz at 5k. then sold at 1500 to start flipping condos in 2003. the average american has no clue on economics. it is not taught in HS. and right now i know a couple of CPA's that r on the verge of BK, personally. so if over 90% of the country does not understand how we got here, then how can they vote?
if it gets really bad, obama is gonna win. that ok with me, i sorta like him, but his solution will be to super size the govt, and that, imo wud be the dumbest thing ever.
well not as dumb as the ethanol push or the iraq war, but a close 3rd.
Fed cuts 75 bps
OH NELLIE!!!!!!!!!!
75 bips, ROFL!!!!!!!!!!!!
i was thinking they may do this yesterday, to crush the shorts.
well this better work today, or, this is gonna make 2000-02 look like a tip toe through the tulips
YEE HAW, nigger rig it is!
uh mern.......your posts are too brief....make them longer
is this a recession?
wow they didnt even do this after 911.
well ben is doug flutie, dropping back against miami. the clock just hit 0, and there is a 60 yr hail mary in the air.
will phelan catch this one?
i wudnt bet on it, again.
August, Sept, Nov, Dec, = 4
4x.50 bps = 2%.
5.25% - 2% = 3.25%.
Current Fed funds is 3.5%.
So Fed has almost caught up.
is this a recession?
3 legs here. stocks, real estate and consumer spending.
stocks very bad correction, close to bear market.
real estate, deader than dead.
consumer in rehab and going throught withdrawal. if they pull a britney and bounce today, well u seen britney get worse by the day. or they cud do the 90 days, get clean and move forward.
imo, 95% economy contracting for sometime. the bls will let us know later this yr.
imo, the ppt shows up around 10 and this day is not the washout we needed.
wow cramer is in manic depressive mode.
santelli just hammered cramer.
cramer said he has been calling for a bear since august. LOL, he was calling for 14500 yr end close in august.
santelli almost fell over when jjc said that.
poor ben. boy did elmer "retire" at the perfect moment?
hmmm AKS beats EPS bigtime [that's AK Steel]
Fool Poole voted against the rate cut. Shessh what a pinhead !
all these earnings r in the rear view mirror.
what r the earnings gonna look like in the back half of this yr. that is what money is wondering.
wow this cut didnt work at all, yet. but it didnt work for a week in 2001
exactly mern..............all future earnings are suspect now
there are no 'safe stcoks' in a recession
boy did the fed screw this up.
they gonna go another 75 next week?
they mite have to
UA back to ipo levels.
luv the company, but will just watch
this is the most bearish ive seen cramer since the oct 98 low!
oh no i just flipped some BAC.
im off the wagon?
BAC keeping dividend - bot more.
Bought more WB, too
still think we cud washout today.
im flat again.
tempting to short.
id like to see a 4 handle on the vix
10 minute hold at AMTD.
avg folks panicing.
gud sign
yield curve getting steeper. $ holding in there.
i wonder how many beefers r positioned for gold and silver to splat and the $ to rally? NONE.
oops the beefers did it again.
mern back in the game..welcome back!!!..lol
not the best time to be looking for work in the FIN industry. but i see my old firm has to hire 2 people to replace me. and i know both of em, and both together wont knock out what i was doing.
so they doubled the pay and get less done. and i only asked for a 50% raise.
fucking idiots!
oh well at least i wont be there when the feds raid the joint.
if UTK goes much lower that firm is history
I went to sleep in the good old USA and wake up in friken' japan...nothing that 20 years of defalation can't fix.
I'm about 200% long now.
I have reserves if needed.
going to sheep herding.
Have a "fun" day
lol frosty.
200% long? u have big ones!
what does the fed know that we dont?
the fed is tape chasing, nothing more, nothing less.
they r still worried about headline inflation. so the only thing that gets em moving is a meltdown.
it wud have been far more intelligent to let the tape open, let to go down 600 or 700 and then do 75 or 100% and really clear out the sellers and crush the shorts.
with what they pulled today, whatever they mite pull next week is like me trying to blast off 2 times on a cold nite. and after that, it shrinks and goes to bed for days.
significant shrinkage? the water is really cold!
now im hungry for scrambled eggs and lobster
;-)
BROWARD COUNTY, Fla. -- A group of registered sex offenders and convicted felons who were told by the Department of Corrections to live under a bridge in Fort Lauderdale have been chased away by neighbors, police and the Department of Transportation.
i guess bud is trading from starbucks, down the road.
lol
frosty's boy Rudy in big trouble down here in florida
he tried the 911 card
then the immigration card
now some tax cut baloney
what a punk
die Rudy die !!!!!
Frosty do you only back losers?....oh wait.....you're a big fan of the sea-pigeons
"consecutive playoff apperances"
lmaooooooooooooooooooooooo
Rudy...the 911 card not working in your home state...all those blue haris can't recall what they had for breakfast...vote the wallet playing out perfect.
glad to see the hildog coming back...she can be beat...by who? anyone but huck.
the primary here will show just how bad the bible thumpers r in florida. if hukabee catches a bid, that is really sad.
hukabee, the devil, whats the difference?
im liking mccain more and more. he is 100. a lump on his neck that borders on a dead fetus. kept in a cage for 4 yrs. bin laden is probably most fearful of mccain, and the economy cant get worse, cant it?
well if the dems get in there, and govt get bigger, that wud be worse.
long mccain leaps
AAPL interesting here.
is the "new" walkmen phenom over yet?
still dont get it. got two ipods. they have dust on em. they sux.
iphone looks cool, that makes more sense.
not involved
Posted on Tue, Jan. 22, 2008
READER POLL
What are you doing with your stocks or stock funds?
Selling
23 (7.1%)
Buying
63 (19.3%)
Buying and selling
13 (4.0%)
Waiting / praying
227 (69.6%)
70% in philly is praying. D'OH!
are you in the market mr jones? ....uh....i mean mr staggerlee?
no, flat here
have no idea how my name changed?
Fred is dead, tosses the towel, what took so long...see Bud, how quick we are to thin the feild, that should set you back a little.
fred gone..Now the Bible belters DO THE HUCKA-BUCK!!!
the hucka buck
bible thumpin fuck?
edwards, hildog, and osama need to get the 3 way over with, and get back to debating the facts.
frosty if u had to, which one wud u sleep with?
im going with edwards becuase he sorta looks like a chix.
mern...thought you would go for the hildog...Bud knows she packs the biggest johnson in the group.
im ya, hildog packing heat, but im not gay.
in fact, i shudnt even talk about it becuase im gonna mush it,but........ saturday nite cindy and i met an ugly tyra banks. she was all over the worden. the worden is interested, and has been given permission to bring that home any nite she can. she also grabbed my butt a few times, and i got half a chubby.
lesbians rule! hot ones, not the hildogs, they sux.
OMG maria is the whole who stole costanza hat!
if this tape gets much worse cramer gonna have to bunker in marias butt.
cramer looks about 110 lbs
i luv how hillary blasted Reagan this week
ronald reagen is the reason i became a democrat......he hated workin families
and now we know for a fact he was a fool and an idiot........"hello....who are you ...nancy......who's nancy?"
alzheimer's my ass
frosty sure is interested in hillary's johnson......why?........maybe he wants to take a ride on it
good day with the K's on the sheep.
Sky fouled up the first gather, but was A-OK later.
Abby agrees with me ... hmmm ... GS must be ready to turn around.
If WB and BAC can hold the div's, then those stocks have to romp this year. Big gains ... thsoe are my #1 and #3 largest postions now; GE is #2.
Yes I am 200% long, but have money to wire in if there's a crash.
Like a good general, I try to have some reserves ready to send into the battle.
gosh that's a heck of a bar on BAC and WB
Bunkerman..not feeling a wash out here...where is the volume in those index products...this is not the big bad bottom.
lotta stochastic diverges out there, positive.
agree with frosty though.
if the fed wud have waited till we were down about 700, that really wud have washed people out.
if the philly pole is correct, barely anyone sold yet
took a flyer on some AAPL.
wtf im bored
AAPL darkside looking good.
oh shit, im fading frosty.
im screwed!
"i just wonder how many people who got a subprime mortgage knew what they were getting into?"
George W Bush, president of this country.
um georgy, only an idiot wud make that statement and u shud have done something about this in 2002!
go do some blow and shut your pie hole!
FUCK!
AAPL covered a little under 140...should see par before next earnings.
is this a recession?
god i sux
im sooo bad its pathetic
WTF was im thinking? oh yeah i was bored, so i decided to lose 5 grand!
only toook me 20 minutes to figure out how to sell after market.
god im so fucking retarded.
thats what i get for not drinking so much.
i just need to wait this out, stay drunk, and get another job.
i fucking blow!
and i knew it. the walkmen phenom is over!
cud i be any dumber?
NOPE!
Bunkerman did this feel like the bottom to you sir?
sorry stagger, shoulda warned you, AAPL has a tack record of diving after earnings for tepid guidance.
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